Crude Oil Futures Close at $60.13 After Late-Session Lift
Oil prices nudged higher on Monday, with benchmark crude oil futures settling at $60.13, up $0.38 (0.64%). The energy market spent most of the day in a narrow trading range before a late push lifted prices, reflecting steady but cautious sentiment across commodities.
Intraday, futures oscillated between a low of $59.41 and a high of $60.48 as traders weighed risk appetite against technical signals. The close near key short-term levels underscores a balanced setup: prices finished between the 100-hour moving average around .00 and the 200-hour moving average near .29. That band has contained action for several sessions, keeping momentum in check.
From a technical perspective, the near-term bias remains neutral. A sustained move above the 200-hour moving average would indicate fresh bullish momentum, while slipping back below the 100-hour moving average could reopen downside risk. Until a decisive breakout occurs, oil prices are likely to remain range-bound as market participants look for a clearer catalyst.
Key Points – Crude oil futures settled at $60.13, up $0.38 (0.64%) on the day. – Session range: low at $59.41 and high at $60.48. – Prices closed between the 100-hour MA (~$60.00) and 200-hour MA (~$60.29). – Late-session buying supported a modest rebound in oil prices. – Technical outlook: neutral bias pending a break of the moving average band. – Above 200-hour MA could signal bullish momentum; below 100-hour MA would tilt bearish.
